Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Reopening of assessment - prior period of expenses - mercantile system of accounting - The petitioner argued that the reliance on the assessment order for AY 2010-2011 was unjustified since the Commissioner of Income Tax (Appeals) [CIT(A)] later allowed the prior period expenses for that year, and the Revenue accepted the CIT(A)'s order. The Income Tax Appellate Tribunal (ITAT) also upheld this position in a similar case. - The High court agreed with the petitioner and quashed the reassessment proceedings.
Reopening of assessment - prior period of expenses - mercantile system of accounting - The petitioner argued that the reliance on the assessment order for AY 2010-2011 was unjustified since the Commissioner of Income Tax (Appeals) [CIT(A)] later allowed the prior period expenses for that year, and the Revenue accepted the CIT(A)'s order. The Income Tax Appellate Tribunal (ITAT) also upheld this position in a similar case. - The High court agreed with the petitioner and quashed the reassessment proceedings.
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